buisness Flashcards
1
Q
what are the characterstics of an entreprenuer?
A
Confidence, risktaking, determination,creativity
2
Q
what are the main purposes of entreprise
A
spotting an opportunity, developing and idea ,satisyfing customer needs.
3
Q
what type of liability do sole traders and partnerships have?
A
unlimited
4
Q
example of limited liability
A
plc and pvt ltd
5
Q
buisness aims and objectives
A
survival, profit, growth,providing the service
6
Q
organic growth
A
increasing output
increasing market share
gaining new customers
developing new products
7
Q
what are the types of external growth
A
mergers or takeover
8
Q
horizontol growth
A
two cafes/ same buisnesses
9
Q
backward vertical growth
A
a coffee beans supplier buys a coffee shop
10
Q
forward vertical growth
A
a coffee shop buys a coffee beans supplier
